Luiz Inácio Lula da Silva’s earlier stint as Brazil’s president coincided with a huge economic boom. His country, by many measures, fared far worse under its next three leaders.

The politician known as Lula is back in office for an unprecedented third term, having campaigned on his record. But it will be hard for him to turn things around again, argue Marc-Andreas Muendler and Carlos Góes, two economists at the University of California, San Diego.

“Unlike in his first two terms, when domestic and foreign markets helped the economy along, Lula now faces strong headwinds at home and abroad,” they observe.

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Emily Schwartz Greco

Philanthropy + Nonprofits Editor

Bolstering Brazil’s economy will be hard if there’s a global recession. Mauro Pimentel/AFP via Getty Images

Brazil’s economic challenges are again Lula’s to tackle – this time around they’re more daunting

Marc-Andreas Muendler, University of California, San Diego; Carlos Góes, University of California, San Diego

He faces strong headwinds at home and abroad as his third term as president gets underway.

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